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Madison council suspends electric utility dividend for 2025 amid $3.8M cost increase
Summary
Citing a projected $3.8 million increase in electricity-related costs driven by PJM capacity and transmission charges, Madison’s council voted unanimously to suspend the electric utility dividend for 2025 and discussed solar, battery storage and time-of-use pilots as mitigation options.
The Borough of Madison’s council voted to suspend the municipal electric utility’s dividend for 2025 after staff forecast a $3.818 million increase in electricity costs next year driven by higher PJM capacity and transmission charges.
CFO Jim Burnett told the council that the utility faces rising costs across three components: the electricity itself, transmission (the “highway tolls” that deliver power), and capacity charges — the latter expected to increase by over $2 million in 2025…
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